Paul Rozo, CEO of Paramount Residential Mortgage Group, Corona, CA, said his shop witnessed a noticeable “uptick” in May and his fingers are crossed regarding the current month.

Better loan grading on the way?

California led all states in VA mortgage securitization with $5.6 billion, 60.8 percent of which were refis.

A research report from Keefe, Bruyette & Woods estimates that the contract could be worth $20 million to $30 million EBITDA...

According to a statement issued by Guild, the acquisition will make the lender/servicer “one of the largest independent mortgage banking companies in Texas.”

Meanwhile, David Lykken of Transformational Mortgage Solutions told us he was the consultant who “got Chad Overhauser in the business and helped him start AmeriPro.” Overhauser is the president of AmeriPro…

The three agencies produced $114.71 billion of new single-family MBS last month, a 5.3 percent increase from April’s volume.

Increased securitization of purchase-money mortgages provided the lift for a pickup in the production of new single-family MBS by Fannie Mae, Freddie Mac and Ginnie Mae in May, according to a new market analysis and ranking by Inside MBS & ABS. The three agencies produced a total of $114.71 billion of new single-family MBS last month, a 5.3 percent increase from April’s volume. May was the third straight month of increased production and it just barely exceeded the $113.56 billion issued during the same period a year ago. For the first five months of 2016, production was down 2.8 percent from last year. Purchase mortgages accounted...[Includes two data tables]

First Mortgage Corp., a privately-held mortgage company based in Ontario, CA, and six executives have agreed to pay the Securities and Exchange Commission $12.7 million to resolve charges they concocted a scheme to defraud investors in Ginnie Mae MBS, the SEC announced this week. According to the SEC’s complaint, from March 2011 through March 2015, FMC repurchased current loans from Ginnie pools that it claimed were delinquent. FMC bought...

Sen. Elizabeth Warren, D-MA, wants the Federal Housing Finance Agency to delay any decision regarding contesting homeowner association foreclosures that will extinguish Fannie Mae and Freddie Mac rights under controversial state super-lien laws. Warren, who co-signed a letter to FHFA Director Mel Watt in May with Sen. Edward Markey, D-MA, and eight Massachusetts lawmakers, wants the FHFA to first solicit public comments on the potential change in policy. Under super-lien laws in 22 states, including Massachusetts, and the District of Columbia community associations are given...